Automotive Carpeting and Roofing Material Market

Automotive Carpeting and Roofing Material Market : Lucrative Prospects on the Cards with
Rising Application of Green Technologies, says TMR
With top players holding over 50% share in 2016, the global automotive carpeting and roofing
market exhibits a fairly consolidated vendor landscape. These companies were Faurecia, Lear
Corporation, Autoneum Holding Ltd., and Magna International Inc., finds Transparency Market
Research (TMR) in a new study. Besides investing in product development, a majority of the
leading market players are exploring mergers and acquisitions to gain stronger foothold in the
global automotive carpeting and roofing market.
Because the market players are operating in a dynamic business environment, they are keen on
aligning their strategies with technological shifts. Considering this, in the next few years, the
automotive carpeting and roofing market is likely to witness increasing investment in research
and development activities as companies aim to benefit from technological advancements.
Spurred by these strategies and other growth drivers, the global automotive carpeting and
roofing market is prophesized to progress at a CAGR of 5.9% between 2017 and 2025. At this
pace, the market’s valuation is expected to reach US$22.69 bn by the end of 2025, from
US$13.51 bn in 2016. Based on vehicle type, passenger vehicles, light commercial vehicles, and
heavy commercial vehicles constitute the key market segments. Of these, passenger vehicles
held the dominant share of over 56% in the global market in 2016, reporting higher demand for
aesthetics.
Regionally, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
are the key market segments. Among these regions, Asia Pacific emerged dominant with a
share of 33.5% in the market in 2016. The rising demand from India, Japan, and China is aiding
the expansion of the automotive carpeting and roofing market in Asia Pacific.
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Rising Investment Aimed at Technological Advancements Aids Market’s Expansion
A majority of companies operating in the global automotive carpeting and roofing market are
pumping investment through private equity in the sector. These firms have become increasingly
active and thus have significant impact on the automotive carpeting and roofing market. With
private equity firms pursuing the buy and build strategies, sooner than expected the
automotive carpeting and roofing market will reap the benefit of the same.
Besides this, factors such as the increasing application of green technologies in automotive
leather materials, use of nano materials in automotive fabric, and other recent advancements
are paving way for the market’s growth in the future. This transition has been brought about by
the increasing research and development in the automotive sector. These recent trends could
usher lucrative prospects for the market as world is gradually inclining towards more ecofriendly living. Integrating green technologies will entail lesser emission thus making the
vehicles more eco-friendly and fuel-efficient.
These developments are a part of recently introduced hybrid and electrical vehicles. Not only
are these vehicles lightweight and more fuel-efficient, but they include aforementioned
attributes. Thus with the increasing demand for electric vehicles, the market players in the
automotive carpeting and roofing market will gain immensely, especially the manufacturers
offering green technologies in automotive leather materials and nano materials for automotive
fabric.
Changes in Global Vehicle Production have Negative Impact on Overall Market
On the downside, the fluctuating global production of vehicles is negatively impacting the
overall market. Alteration in vehicle production could decelerate the demand for automotive
carpeting and roofing materials. This pose considerable threat to the market, inhibiting its
trajectory to an extent. Nevertheless, with rising opportunities across emerging nations of Asia
Pacific, the impact of the restraint can be lessened. The demand for vehicles in countries such
as China, Japan, and India is rising at a high pace. Furthermore, the increasing demand for
advanced, electric, and hybrid vehicles from these nations are tipping scales in favor of the
automotive carpeting and roofing market.

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